AGEM Index ends growth with 9.7 per cent drop in April
The AGEM Index ended a three-month period of growth by falling by 92.98 points to 862.42 in April, marking a 9.7 percent decrease from the prior month.
Compared to one year ago, however, the index added 3.99 points for an annual growth rate of 0.5 per cent.
During the latest reporting period, 11 of the AGEM Index companies reported stock price declines, with only one company posting an increase. As a result, all 12 companies in the AGEM Index posted negative contributions to the overall index.
The largest negative contributor to the monthly index was Aristocrat Leisure, which reported a 47.42-point index loss as a result of an 8.3 per cent decline in stock price. Meanwhile, International Game Technology (IGT) suffered an 11.40-point loss to the index due to a 11.6 per cent drop in the company’s stock price. Despite a 3.7 per cent increase in stock price over the period for Konami, a weakened exchange rate between the United States dollar and the Japanese yen led to a 5.19-point loss for the index.
The decline game at a time when all three major U.S. stock indices observed negative growth. The Dow Jones Industrial Average decreased by 4.9 per cent from March, while the S&P 500 fell by 8.8 per cent. Meanwhile, the NASDAQ saw a 13.3 per cent decline over the month.
The Association of Gaming Equipment Manufacturers produces the monthly AGEM Index that comprises 12 global gaming suppliers throughout the world and is based on the month-end stock price of each company and weighted based on an approximation of market capitalization.